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Greensill Capital: Sanjeev Gupta's GFG puts Australian businesses at core of restructure afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
6 May 2021 GFG Alliance, owned by British industrialist Sanjeev Gupta, and which recently re-emerged – at least partially intact – from the wreckage of the collapse of a key financial backer, is looking for buyers for its Australian clean energy projects as part of its restructuring. A spokesperson for GFG Alliance told RenewEconomy that the company was looking to find a potential buyer or development partner for the company’s Cultana Solar Farm and Playford big battery projects, each to be located in South Australia. The two projects are being developed by GFG Alliance’s energy arm, Simec Energy, and are set to supply clean energy to GFG’s Whyalla steelworks. ....
Wiping off Whyalla has become something of a macabre sport. All manner of things have been said to be about to destroy the steelworks town, including (briefly) the 2012-2014 carbon price. BHP abandoned the steelworks, the harbour and the nearly Middleback Range iron ore mine in 2000, floating it off as a separate company it called OneSteel. Renamed Arrium, the company collapsed in 2016, in circumstances that are still being fought out in court. Bought in July 2017 by Dubai-based British industrialist Sanjeev Gupta, the steelworks enjoyed a revival until this month, with an exclusive contract to supply steel for the planned eastern inland rail line and plans to make 100% “green steel” from renewable energy sources. ....